JPMorgan Chase & Co. trimmed its holdings in shares of Genworth Financial Inc (NYSE:GNW) by 8.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,038,174 shares of the financial services provider’s stock after selling 176,566 shares during the period. JPMorgan Chase & Co. owned about 0.41% of Genworth Financial worth $5,768,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of GNW. Schwab Charles Investment Management Inc. increased its stake in shares of Genworth Financial by 5.5% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 3,334,927 shares of the financial services provider’s stock worth $10,372,000 after purchasing an additional 172,433 shares in the last quarter. Teacher Retirement System of Texas increased its stake in shares of Genworth Financial by 298.6% during the 4th quarter. Teacher Retirement System of Texas now owns 164,362 shares of the financial services provider’s stock worth $511,000 after purchasing an additional 123,128 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of Genworth Financial by 8.6% during the 4th quarter. The Manufacturers Life Insurance Company now owns 1,193,331 shares of the financial services provider’s stock worth $3,711,000 after purchasing an additional 94,598 shares in the last quarter. Arizona State Retirement System increased its stake in shares of Genworth Financial by 27.0% during the 4th quarter. Arizona State Retirement System now owns 359,273 shares of the financial services provider’s stock worth $1,117,000 after purchasing an additional 76,331 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. increased its stake in shares of Genworth Financial by 52.1% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 55,077 shares of the financial services provider’s stock worth $171,000 after purchasing an additional 18,868 shares in the last quarter. 65.43% of the stock is owned by institutional investors and hedge funds.
Get Genworth Financial alerts:GNW has been the subject of a number of recent research reports. Wells Fargo & Co reissued a “hold” rating and set a $5.00 price objective (up from $3.00) on shares of Genworth Financial in a research note on Wednesday, June 6th. Zacks Investment Research cut shares of Genworth Financial from a “hold” rating to a “sell” rating in a research note on Tuesday. BTIG Research reissued a “hold” rating on shares of Genworth Financial in a research note on Tuesday, June 12th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating on shares of Genworth Financial in a research note on Thursday, April 12th. Two analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $4.17.
GNW stock opened at $4.50 on Friday. The company has a market capitalization of $2.18 billion, a price-to-earnings ratio of 3.24, a PEG ratio of 0.89 and a beta of 2.44. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.28 and a quick ratio of 0.28. Genworth Financial Inc has a one year low of $2.66 and a one year high of $4.92.
Genworth Financial (NYSE:GNW) last released its earnings results on Tuesday, May 1st. The financial services provider reported $0.25 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.26 by ($0.01). The firm had revenue of $2.12 billion during the quarter, compared to analysts’ expectations of $2.15 billion. Genworth Financial had a return on equity of 4.50% and a net margin of 9.39%. The firm’s revenue was down 2.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.29 earnings per share. sell-side analysts expect that Genworth Financial Inc will post 0.98 EPS for the current year.
Genworth Financial Company Profile
Genworth Financial, Inc provides insurance and homeownership solutions in the United States and internationally. It operates through five segments: U.S. Mortgage Insurance, Canada Mortgage Insurance, Australia Mortgage Insurance, U.S. Life Insurance, and Runoff. The U.S. Mortgage Insurance segment offers mortgage insurance products primarily insuring prime-based, individually underwritten residential mortgage loans.
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